-
My S-Corp Already Has an EIN — Does My Solo 401k Need a Separate One?
-
1 Reply
-
I operate my business as an S-Corp and it already has its own EIN on file with the IRS. When I open a Solo 401k for my S-Corp, do I use the S-Corp’s existing EIN for the plan, or does the Solo 401k need to have its own completely separate EIN? I want to make sure I set this up correctly from day one.
-
When a business already has its own EIN — as is the case with every S-Corp — the Solo 401k plan still requires its own completely separate EIN. The S-Corp EIN and the Solo 401k EIN are two distinct numbers serving two different legal entities.
Here is the distinction:
- The S-Corp EIN identifies the employer — the self-employed business that sponsors the plan
- The Solo 401k EIN identifies the retirement trust — the separate legal entity that holds all plan assets
These are two different entities with two different purposes, and the IRS treats them separately. The S-Corp’s EIN should never be used to open Solo 401k brokerage or bank accounts, identify the plan for K-1 reporting, or make alternative investments through the plan.
Example: Mike operates an S-Corp that already has EIN 12-3456789. When Mike opens a Solo 401k for his S-Corp through My Solo 401k Financial, the plan receives its own separate EIN — say, 98-7654321. Mike’s S-Corp brokerage account uses 12-3456789. His Solo 401k brokerage account uses 98-7654321. Two entities. Two EINs. Completely separate.
Visit to learn more: https://www.mysolo401k.net/can-i-open-a-solo-401k-with-my-ssn/
mysolo401k.net
Can I Open a Solo 401(k) With My SSN? - My Solo 401k Financial
My Solo 401k Financial offers self-directed Solo 401k, IRA LLC & ROBS 401K Retirement Plans. Learn about Can I Open a Solo 401(k) With My SSN?
Log in to reply.